SB 2 - This act modifies provisions relating to ratemaking for electrical corporations.
This act gives the Public Service Commission the authority to approve a special rate for 10 years or December 31, 2027, whichever occurs first, for an aluminum smelting facility or steel works facility if the Commission determines the rate is in the public interest, allocates the reduced revenues to other customers, and authorizes a tracking mechanism. Such special rate need not be based on the electrical corporation’s cost of service, but shall be above the electrical corporation’s incremental cost of providing power. In order to receive such special rate, a facility shall file an application with the Commission requesting the rate, and provide information on how such special rate serves the public interest.
This act contains an emergency clause.
This provision is similar to a provision contained in CCS/HCS/SB 302 (2017), SCS/SB 1028 (2016), and SS/HCS/HB 2689 (2016).